KUALA LUMPUR (Oct 15): The Federal Government is considering a clearer set of criteria or “scorecard” to guide policy on investment-linked activities going forward, according to Deputy Minister of Investment, Trade and Industry Liew Chin Tong.
Liew said the new investment criteria, to be based on the New Industrial Master Plan (NIMP) 2030, is envisioned to guide the government’s decisions on investment and incentives.
“The government, through the work of the SC (Securities Commission Malaysia), Bank Negara Malaysia, Miti (Ministry of Investment, Trade and Industry), and the Ministry of Finance, are now seriously looking at having a clear scorecard for investment and incentives [aligned] with the National Investment Aspirations (NIA) and basing it on the NIMP,” he said during his keynote address when officiating the SC-World Bank Conference 2024 on Tuesday.
“Companies that we incentivise will have to explain to the government its contribution to the country, technology, and innovation,” he added.
The NIA comprises six pillars, namely increasing economic complexity, creating high-value job opportunities, extending domestic linkages, developing new and existing economic clusters; and improving inclusivity, and environmental, social, and governance (ESG).
Meanwhile, the NIMP is guided by four key missions, namely advancing economic complexity, tech up for a digitally vibrant nation, pushing for net zero, and safeguarding economic security and inclusivity.
This fifth iteration of the SC-World Bank Conference is themed “Empowering MSMEs: Cultivating Compassionate Growth through the Capital Market”, highlighting the critical role of micro, small and medium enterprises (MSMEs) in driving economic growth and inclusive development.